Its the economy stupid!

“The economic crisis has accomplished what the Kyoto Protocol couldn’t. Hooray!”

According to Richard Heinberg, the economic crisis is triggering massive reductions in coal and oil consumption leading to significant greenhouse gas emission reductions. Capitalism and climate change begun in the same period in history – their paths are intertwined and given that the largest emission reductions since international climate change negotiations began have come about as a result of economic collapses, its seems impossible to continue economic growth while effectively addressing climate change. Clearly, we cannot have both.

In short, the good news is this…

• World energy consumption is declining
• CO₂ emissions are falling
• Consumption of goods is falling
• Globalization is in reverse (global trade is shrinking)
• The number of vehicle miles traveled (VMT) is falling
• There are fewer cars on the road
• The world’s over-leveraged, debt-based financial system is failing
• Gardening is going gonzo

Read the full article here